In today’s tough economic times, we know that consumers are being forced to tighten their belts as the cost of most basic necessities – ranging from petrol to food – are on a continuous rise. Despite these harsh financial realities, it’s important not to lose sight of financial independence and freedom and there are a few things you can do to help keep your finances on track as we ride out these uncertainties:
- Make a few adjustments to your lifestyle – a few moderate changes to your budget and keeping to a strict budget will go a long way to ensure you are saving a little each month and not living beyond your means.
- Keep an eye out for unnecessary expenses – there are usually a few luxury items you can cut out such as that daily takeaway coffee or chocolate. Seems small but it can make a big difference to your budget over time.
Understand the true meaning of affordability. Today, affordability means understanding how you are going to pay for something – not just at the purchase of that product but for its whole life cycle. The Banking Association recently tweeted a fantastic example: “If you can afford R5000 per month for a car, about half of that will go to insurance and fuel. So, your actual amount available for the repayments is far less than you realise.” – that is affordability.
- Look at options that come with value-added benefits and other services, perhaps outside the core offering, that you can take advantage of to leverage your current spend.
- It is also important to keep your assets safe during this time as you re-evaluate and re-budget.
Beame understands how important it is to ensure that you can not only afford an important service but also get additional value, which is why Beame continues to remain affordable for less than the cost of a cup of coffee per day. And this for a service that gives you peace of mind that your car can be recovered. And for an additional cost of only R70 per month Beame Protect brings extended value-added support to you as a motorist, including accident assist, fines assist, licence assist, pothole assist and bail assist.
For more information about Beame and to sign up visit www.beame.co.za.